The company had reported a consolidated net loss of Rs 2.42 crore in the July-September quarter a year ago, Hathway Cable and Datacom said in a regulatory filing.
Its total income was up 28.87 per cent to Rs 510.77 crore during the period under review as against Rs 396.33 crore in the same quarter previous fiscal.
Morgan Stanley expects Hathway Cable to hit a target price of Rs 36 over a period of one year, implying nearly 18 percent potential upside from Friday's trade.
IDFC Securities also said the RIL deal is the best thing that could happen to Hathway and Den Networks.
"The board of directors of the company... approved allotment of 30,800,000 fully paid-up equity shares... the company to Hathway Investments, an entity forming part of the promoter group, at a price of Rs 32.35 per share aggregating to Rs 99.63 crore on preferential basis," Hathway Cable and Datacom said in a regulatory filing.
Hathway Cable's net loss for the quarter stood at Rs 2.63 crore against profit at Rs 27.16 crore in corresponding period last fiscal.
Edelweiss is bullish on Hathway Cable and Datacom has recommended buy rating on the stock with a target price of Rs 43 in its research report dated November 03, 2017.
Edelweiss is bullish on Hathway Cable & Datacom has recommended buy rating on the stock with a target price of Rs 45 in its research report dated February 09, 2017.
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